LETTER: Waltham state rep provides update on Fernald

Monday

Apr 7, 2014 at 3:00 PM

For some time now many residents have asked: What is going on with the Fernald property? In the interest of transparency, I write to inform the public.The Commonwealth of Massachusetts is offering an unprecedented proposal to three municipalities (Westborough, Medfield and Waltham) with state institutional buildings and land. The Sale Partnership Model, as it is being referred to, will offer large parcels of state-owned land to the host communities for an extremely low price. The acreage for sale in Westborough is 90, Medfield 120 and Waltham (Fernald) 180. The price will be determined based on the "sunk in cost" or cost to close the facilities as opposed to the value of the land. The cost for Westborough and Medfield are between $2 million and $3.1 million approximately. Once the cost to close the Fernald is determined, the City Council and mayor will vote to accept or reject the offer. If passed, the Massachusetts legislature will then vote on the proposal.In return, if developed in any way the state would share 50 percent of the profit. However, the host community's share could grow to 70 percent based on certain incentives. All environmental costs would be borne by the municipality or developer if the community so chooses.The state is relieving itself of state-owned land which reuse often takes years to agree while ensuring state taxpayers receive a return on state property. In essence, the state is handing off to municipalities the task of deciding the reuse of the property.–Tom Stanley, Waltham councilor-at-large and state representative